‘We will lose amazing technology in the long run’: Deeptech founders still struggle to win state support
European deeptech startups are still facing a tough time securing the government funding they need to bring breakthrough technologies to market. Christoph Jenny, cofounder of Swiss foodtech startup Planted, says the lack of strong state support puts Europe at risk of falling behind regions like the U.S. and Asia, where subsidies and incentives are far more generous. Planted, which spun out of ETH Zurich, has launched innovative plant-based products like its fermented steak, but Jenny says navigating Europe’s patchy and fragmented funding system has been a major hurdle.
The European funding landscape is made up of countless small programs spread across different countries and EU bodies, each with its own rules, making it hard for startups to know where to turn. Jenny’s team is currently evaluating 15 different funding opportunities just for the next year, and often has to rely on advisors to help make sense of the red tape. Although institutions like the European Innovation Council (EIC) offer various grants and equity investments, the piecemeal structure and slow processes mean startups are often left in limbo when trying to push bold innovations forward.
For companies like Planted, these grants aren’t just helpful—they’re critical. Their latest steak product, which cuts emissions by 97% compared to regular meat, almost didn’t get made due to a cancelled EU grant. Thankfully, Switzerland’s innovation agency stepped in with emergency funding, but not every startup is so lucky. Jenny warns that without faster and more coordinated public support, Europe risks losing the very technologies it needs to lead in sustainability and food innovation.
Source: https://sifted.eu/articles/deeptech-founders-state-support
